Take me to the text The following information was taken from the financial records of Richmond Public House, owned by Bob Redmond at its year end of September 30, 2021. The company uses the periodic inventory system and combines its beverage and food inventory in a single account Freight-in $1,690 Interest Expense $3410 Inventory, October 1, 2020 $156,140 Inventory, September 30, 2021 $122,610 Purchase Returns and Allowances $10,410 Purchases $100,410 Rent Expense $29,910 Salaries & Wages Expense $43.790 Sales Discounts 59.240 Sales Revenue $253,030 Required a) Calculate the cost of Sales Do not enter dollar inson commas in the input boxes Do not use negative sans a) Calculate the cost of Sales Do not enter dollar signs or commas in the input boxes. Do not use negative signs. Inventory, October 1, 2020 $ Purchases $ Purchase Returns and Allowances $ Net Purchases $ $ Freight-in 15 Subtotal $ Cost of Goods Available for Sale $ Inventory, September 30, 2021 $ Cost of Sales $ b) Prepare the closing entries using the income summary method When closing accounts, use the income summary method Date Account Title and Explanation Debit Credit 2021 Sep 30 1 Close revenue and credit accounts Sep 30 . . . 41 . Close expense and debit accounts Sep 30 . To remove beginning inventory Sep 30 + . To update ending inventory Sep 30 . Close income summary account